26 April 2007 - 12:35

BAM completes acquisition of Belgian property developer Landsbeeck

Bunnik, Netherlands, 26 April 2007 - Royal BAM Group has successfully completed the acquisition of all shares of the Belgian property developer Landsbeeck nv, based in Wilrijk, Belgium, as announced on 30 March 2007.

Landsbeeck and its subsidiary Kairos have been active on the high-end office development market since 1989, focussing mainly on Brussels, Antwerp and the other urban areas in Flanders. The portfolio includes some 15 projects that are in progress and various concrete projects that are scheduled for a later date. Landsbeeck's present management will remain with the company until at least 2010. The acquisition of Landsbeeck and Kairos is in line with BAM's growth strategy, which was set out by BAM at the end of 2006. It represents a significant expansion and reinforcement of BAM's property development activities in Flanders and Brussels.

Further information: A.C. Pronk, +31 (0)30 659 86 21.